A common problem many professional firms face is overly relying on only one approach to business development. They focus all their efforts on word-of-mouth and referrals, or on networking, or on responding to tenders/RFPs. Typically, the basket they keep all their eggs in is the one they are the most comfortable with: it’s worked for them before, they have the skills to do it, and it doesn’t push them outside their comfort zone. This works fine when times are good and there’s plenty of work for everyone. But in tougher times, if that one source dries up, they are left stranded. My suggestion to clients is to protect against this by always having multiple approaches to win new clients. In particular, I suggest they focus on...
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